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?:iii <br /> Policy PQ P'+ l` icy Polic.:., Pol Pole Pole <br /> Meeting Date: 3/24/93 <br /> Agenda Item: P 3 <br /> CITY OF FALCON HEIGHTS <br /> REQUEST FOR COUNCIL CONSIDERATION <br /> ITEM DESCRIPTION: Authorization for the administrator to <br /> develop financial agreement with Lauderdale <br /> for the 1993 street projects <br /> SUBMITTED BY: Susan Hoyt, City Administrator <br /> EXPLANATION /SUMMARY: <br /> On Tuesday, March 16, 1993 the city engineer and the <br /> administrator met with Mayor Dain and Administrator Miller of <br /> Lauderdale to discuss the 1993 street project that includes <br /> Fulham Street. Fulham Street is a border street with Lauderdale. <br /> Staff requested that Lauderdale financially participate in the <br /> project for an estimated $26,050, which is the Lauderdale share <br /> of the cost. This is less than 3% of the total 1993 street <br /> project cost. <br /> Mayor Dain will discuss the street project with the Lauderdale <br /> council. It was not a budgeted expense for Lauderdale in 1993 <br /> and will require looking over financing options for that city. <br /> Both staffs are recommending that the administrators meet to <br /> determine a way for Lauderdale to pay for the project that does <br /> not require a lump sum payment from Lauderdale in 1993, but <br /> covers the construction and any additional financing costs <br /> incurred by Falcon Heights. <br /> Since Falcon Heights initiated the project, the city engineer <br /> will be available to discuss the project with the Lauderdale <br /> (_?Ii■ <br /> council members and abutting Lauderdale property owners. <br /> ACTION REQUESTED: <br /> Authorize administrator to meet with Lauderdale administrator to <br /> develop financing terms for the Lauderdale share of construction <br /> costs for the 1993 street projects. <br />